Union Budget ignores Kerala, CPI(M) to observe Feb 3 as 'Black Day'
Thiruvananthapuram (PTI): The ruling CPI(M) on Monday called for observing February 3 as a 'Black Day' across Kerala, protesting what it described as the Centre's "severe neglect" of the state in the Union Budget.
In a press statement, the party state secretariat said the Budget was presented as if Kerala did not exist on the map of India.
It pointed out that Kerala had placed 29 demands before Union Finance Minister Nirmala Sitharaman ahead of the Budget, but none of them were accepted.
The state did not receive a single long-pending project, the CPI(M) said.
The party criticised the Centre for once again ignoring Kerala's demand for an AIIMS, and for excluding the state from the seven high-speed rail corridors announced for railway development.
It also said no special package was approved for the Vizhinjam port, while Kerala was denied an Ayurveda AIIMS despite being known as the cradle of Ayurveda.
The state was also left out of inland water transport projects.
The CPI(M) said the Budget failed to protect traditional industries in Kerala and did not include the state in announcements on universities and townships.
There was no provision for a rubber price stabilisation fund, nor any mention of the proposed railway coach factory, the party said.
It also accused the Centre of ignoring NRI welfare and scheme workers, including ASHA workers.
The party alleged that the Budget favoured corporate interests, noting that corporate taxes were not increased and the alternate minimum tax for big companies was reduced.
It also criticised cuts in the employment guarantee scheme, saying it would badly affect Kerala.
"There has been no move to strengthen welfare schemes. By completely neglecting the poor, the Budget has delivered yet another blow to Kerala," the CPI(M) said.
As part of the protest, the party said black flags would be hoisted at all booths on February 3 and urged people to participate in demonstrations against what it called an anti-people Budget.
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Govt to introduce IBC Amendment Bill in second half of Budget session starting Mar 9: FM
New Delhi (PTI): Finance Minister Nirmala Sitharaman on Monday said the government intends to introduce the Insolvency and Bankruptcy Code (Amendment) Bill, 2025 in the second half of the Budget session beginning March 9 as the parliamentary committee has already submitted its report.
The proposed amendments to insolvency law would help further enhancement in the timelines and effectiveness of proceedings as well as alignment of India's insolvency regime more closely with the global best practices.
The parliamentary committee has submitted its report as far as proposed legislation with respect to Insolvency and Bankruptcy Code (IBC) is concerned, she said during an interaction with the media a day after presenting Budget 2026-27 in the Lok Sabha.
"I expect, subject to conditions, to table the Insolvency and Bankruptcy Code (Amendment) Bill in the second half of Budget session starting March 9 incorporating suggestion of the committee," the Finance Minister, who also holds the Corporate Affairs Ministry portfolio, said.
This is going to be the seventh amendment to IBC Act implemented in 2016. So far, it has undergone six legislative interventions since its enactment and the last amendment was in 2021.
The IBC brought about changes in the debtor-creator relationship and was able to instill fear among companies and promoters about insolvency if they fail to repay debts.
On August 12, 2025, the government introduced a Bill in the Lok Sabha to amend the Insolvency and Bankruptcy Code (IBC), proposing a raft of changes, including provisions to reduce the time taken for admission of insolvency resolution applications.
The Bill, which was referred to a select committee of the Lok Sabha, has also submitted its report in December 2025.
